For the Quarter Ending December 2022
North America
In North America, the price of coconut oil fell in the fourth quarter of 2022 as a result of a decline in demand from downstream industries, including the food and cosmetics sectors. The moderate to low demand from the pharmaceutical and cosmetic industries resulted in a decrease in the price of other edible oils in the first half of Q4 of 2022. However, the invasion of the Russia-Ukraine conflict and global supply disruptions drove up food prices, particularly in the USA. Prices decreased in the second half of Q4 of 2022 as a result of the plentiful supply coming from the primary exporting nations to the USA. Despite a decline in demand, there were still sizable stockpiles on the domestic US market. It was possible to satisfy consumer demand with excess supplies.
Asia Pacific
Due to unpredictable market dynamics, the price of coconut oil varied throughout the fourth quarter of 2022 throughout the Asia-Pacific region, particularly in Indonesia and India. The first part of the quarter saw a decrease in the price of other edible oils as a result of Indonesia's heavy production of palm oil in Q4 2022. As other edible oils' prices have decreased, coconut oil has gained popularity as an alternative on the home market. In the second half of Q4 of 2022, the price kept dropping because of weak demand and huge market inventories. Due to a rise in demand from end-user industries and domestic households, prices were raised in the final month of the quarter.Towards the end of Q4 2022, the price of Coconut Oil was recorded to be USD 1903/MT for Ex-Kuttoor (India) in December 2022.
Europe
Prices of Coconut Oil in Europe varied throughout the fourth quarter of 2022 as a result of greater access to ports, particularly those on the Black Sea. All edible oils' prices, including coconut oil, decreased in the first half of Q4 of 2022 as a result of high output and weak demand. The climate favoured enormous acres of cultivating grounds and the robust productivity of the coconut plant. Due to a drop in stocks with the local dealers, prices increased in the second month of the quarter. With the release of the restriction, the price of other edible oils in the country dropped, which led to Indonesia relaxing its restrictions on the export of palm oil in the second half of Q4 of 2022. Towards the end of Q4 2022, the price of Coconut Oil was recorded to be USD 1550/MT for CFR Rotterdam in December 2022.
For the Quarter Ending September 2022
North America
In North America, the price of Coconut Oil decreased in the Q3 of 2022 due to the declining demand from downstream industries, which includes the food and cosmetics industry. Other edible oil prices fell in the first half of Q3 of 2022 as a result of the moderate to low demand from the pharmaceutical and cosmetic industries. However, the invasion of the Russia-Ukraine war and worldwide supply disruptions caused food prices to rise, especially in the USA. Due to the abundant supply coming from the main exporting nations to the USA, prices fell in the second half of Q3 of 2022. In the USA's domestic market, demand had decreased, but there were also large stocks. The surplus stock was available to meet consumer demand. Towards the end of Q3 2022, the price of Coconut Oil was recorded to be USD 1675/MT for the USA in September 2022.
Asia Pacific
The abundance of production in the regional market, particularly in Indonesia, led to a fall in the price of coconut oil in Asia-Pacific nations in the Q3 of 2022. Due to Indonesia's easing of the ban imposed on its palm oil in Q3 2022, the price of other edible oils declined in the first half of the quarter. In the domestic market, coconut oil has become more popular as a substitute for other edible oils as their prices have dropped. Due to poor demand and excessive market inventories, the price continued to decline in the second half of Q3 of 2022. Towards the end of Q3 2022, the price of Coconut Oil was recorded to be USD 1425/MT for FOB Tanjung Priok in September 2022.
Europe
Due to easier access to ports, notably those on the Black Sea, coconut oil prices in Europe fell in the third quarter of 2022. Due to strong production and low demand, the prices of all edible oils fell in the first half of Q3 of 2022. The weather fostered the coconut plant's strong productivity and favored large acres of cultivated grounds. Prices fell in the second half of Q3 of 2022 as a result of Indonesia's relaxation of its restrictions on the export of palm oil. The lifting of the restriction reduced the cost of other edible oils in the nation. Towards the end of Q3 2022, the price of Coconut Oil was recorded to be USD 1655/MT for CFR Rotterdam in September 2022.
For the Quarter Ending June 2022
In North America, the price of Coconut Oil decreased in the Q2 of 2022, owing to the decreasing demand from the downstream industries, including the food and cosmetics sectors. In the first half of Q2 of 2022, the prices of other edible oils increased except for Coconut Oil because demand from pharmaceuticals and cosmetics was modest to stable. However, the invasion of the Russia-Ukraine war and supply disruptions globally led to food inflation in the global market, including in the USA. In the second half of Q2 of 2022, the prices decreased owing to the ample supply from the key exporting countries to the USA. The demand decreased, and there were high inventories in the domestic market of the USA, and the surplus stock was present in the market to feed the consumer's demand.
In Asia-Pacific countries, the price of Coconut Oil decreased in the Q2 of 2022, owing to the ample production in the regional market, especially in India. In the first half of Q2 2022, the price of other edible oils was increased due to the ban sanctioned by Indonesia on its palm oil. The increase in the price of other edible oils has shifted the market to other alternate oils like Coconut Oil in the domestic market. Though Coconut Oil is used in India in Kerela and some parts of Karnataka, it has not much affected the market dynamics of the product. In the second half of Q2 of 2022, the price remained on a lower trajectory due to less demand and high inventories in the market.
In Europe, the Coconut Oil price fluctuated in the Q2 of 2022, owing to the Russia-Ukraine war, which affected the price of edible oils in the global country. Including Germany and Netherland. In the first half of Q2 of 2022, the prices of all the edible oils were hiked due to low production and high demand. The low production of the Coconut plant was affected due to war, which damaged the cultivating lands. In the second half of Q2 of 2022, the prices decreased due to the ease of the export ban by Indonesia on its Palm Oil. The relaxation of the ban settled the price of other edible oils in the country.
